Company briefs: Baidu, Pony.ai

Baidu, Pony.ai 

Search giant Baidu and Toyota Motor-backed Pony.ai were granted the first batch of licences from Beijing regulators to start open-road autonomous commercial driving operations in a part of the city equivalent to the size of Manhattan.

The pilot licences will allow a fleet of around 100 cars from the two companies to travel around the 60 sq km so-called Beijing High-level Automated Driving Demonstration Area, about a 30-minute drive from Tiananmen Square, according to state media reports.

BLOOMBERG


Pinterest 

Pinterest pledged US$50 million (S$68 million) to overhaul its corporate culture and promote diversity as part of an agreement to resolve allegations that it discriminated against women and people of colour, according to court documents and statements from the plaintiffs and the company. The company's shareholders had accused Pinterest's board of directors of failing to respond to a culture of discrimination and retaliation against women and people of colour. By allowing the discrimination to continue, the shareholders argued, the board had failed to act in their best interests.

NYTIMES


8i Acquisition 2 Corp

Special purpose acquisition company (Spac) 8i Acquisition 2 Corp began trading on the US Nasdaq stock exchange on Monday after raising US$86.3 million (S$118 million) in its initial public offering, it said yesterday. Proceeds were raised from some 8.63 million units at an offering price of US$10 per unit, which also includes the 1.1 million units issued from the full exercise of the underwriter's over-allotment option.

Singapore-based Mr James Tan Meng Dong is the chief executive officer and director of the Spac.

THE BUSINESS TIMES

A version of this article appeared in the print edition of The Straits Times on November 26, 2021, with the headline 'Company briefs'. Subscribe